Cranswick looks to beat forecasts

FTSE 250 food production firm Cranswick (LON:CWK) saw its share price rise by 5.78% to 4,045p (as of 10:25 BST) after reporting that revenues for the 13 weeks ended 27th June increased by 24.8%. While sales to the food service industry have suffered, this has been offset by strong retail demand and new deals linked to the Eye poultry facility. Management expect retail volumes to normalise through the rest of the year, but believe that results for the year ending 27 March 2021.

CEO Adam Couch commented: “We have made a strong start to the year. Whilst we remain cautious about the longer-term economic impact of COVID-19 and the uncertainty surrounding the ongoing Brexit negotiations we are well positioned to address these challenges. Our positive momentum reflects the continued investment we make across our asset base and the quality and capability of our colleagues across the business“.